Van Nuys LA Fitness Sold for $23 Million

FM Enterprises of Sherman Oaks has announced the purchase of a 53,000 square foot LA Fitness branch in Van Nuys located at 6161 N. Sepulveda Blvd.

This is seen as a long term investment for FM, as LA Fitness is tied to a 20 year lease at this complex’s location. Frank Mushmel, principal at FM Enterprises expressed his excitement at the deal stating “This is an incredible location and there’s a long-term lease with a solid credit tenant.”

Yubin Tao of Investment Real Estate Associates in Los Angeles represented both sides in this off market deal. 

Source: http://www.sfvbj.com/news/2014/jul/09/van-nuys-la-fitness-fetches-23-million/

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